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COP28: OPEC urges members to reject fossil fuel phaseout

December 9, 2023 Comments Off

OPEC has warned its member countries that a phaseout of fossil fuels being negotiated at the COP28 UN climate change summit would jeopardize their economies, and that any agreement should focus on emissions rather than targeting energy sources. In a letter to its 13 members and several allies seen by S&P Global Commodity Insights and confirmed by three officials, OPEC…